Albemarle Area United Way

Analysis

Albemarle Area United Way is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in August 1971, 55 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Albemarle Area United Way reported income of $1.1m and spending of $854k, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $468k to $1.1m (+125%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 156%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Albemarle Area United Way sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Ames Historical Society ($1.1m), Hopecam Inc ($1.1m) and Hernandez Mariachi Heritage Society ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $175k. At year end it held assets of $2.0m against liabilities of $92k, net assets of $1.9m. It reported 8 employees.